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Real Robot works in two modes – normal and aggressive. The normal mode is the main one and it has the time filter together with all required parameters to run. The aggressive mode trades on another time period and also has the time filter and appropriate trading parameters.
The system trades GBPUSD M15 with the default settings. It shows good results after doing the backtesting from year 2000 until now. You can check the results by downloading the demo version and doing the backtesting on your MT4 platform. It can also work with EURUSD with less profits and higher DD.
For using or backtesting, use the same default parameter values unless two points:
- Set "Stop The Strategy In Unmanaged Close" to false to speed up the backtesting process.
- Set the correct GMT offset value because the Automatic GMT detection does not work in this mode. You can get the required GMT offset value from the free script GMT Offset.
- It can work with any account size not like many of the systems that need big accounts to work safely.
- It is based on two strategies with two modes that work separately.
- For each mode there are editable parameters like time filter, SL/TP and risk percentage per group of orders.
- It is neither martingale, nor any other method that can suddenly obliterate the entire account.
- The system was backtested from year 2000 until now and shows good results with only very few months with negative net returns that were covered after that.
- It is recommended to deal with a broker offering a tight spread that should be 2.5 or less with low latency time (fast execution).
- There is adjustable risk percentage for each mode for each trading group of orders.
- The EA auto detects the GMT offset required for the system to work in the correct time unless for backtesting mode that requires a trader to enter the correct GMT offset value.
- This system gives best results with GBPUSD.
- This system works on M15.
Main parameters, normal mode
- Orders Type = Both_Buy_And_Sell: Types of opened orders (Buy Only, Sell Only or Both Buy and Sell).
- Use Incremental Lot Size = true: Allow using money management by setting a lot size according to the risk percentage.
- Risk Percentage Per Group = 10: Risk percentage for each group of orders.
- Lot Size = 0.5: Lot size in case "Use Incremental Lot Size" was false.
- Take Profit = 5: Profit in pips.
- Stop Loss = 30: Stop loss in pips.
- Max Lot Size = 50: Max lot size allowed to be used.
- Max Number of Orders = 4: Maximum number of orders per group of orders.
Time filter, normal mode
- GMT Setting Type = Automatic_GMT_Detection: set the type of GMT setting. It has two values. The first one is Automatic_GMT_Detection that automatically detects the GMT offset for a broker server. In case it is set to Manual_GMT_Setting in this case a user should enter the GMT Offset in the following parameter.
- GMT Offset = 3: This parameter is
used only if the above one is set to Manual_GMT_Setting GMT or it is in
- Or you can use this free script GMT Offset to get the required offset value that should be entered for this parameter.
- Start Trading Time = 20:00:00: Start trading time. Use the format of "hh:mm:ss".
- End Trading Time = 20:59:59: End trading time. Use the format of "hh:mm:ss".
- Allow Trading In Monday = true: Trade on Monday.
- Allow Trading In Tuesday = true: Trade on Tuesday.
- Allow Trading In Wednesday = true: Trade on Wednesday.
- Allow Trading In Thursday = true: Trade on Thursday.
- Allow Trading In Friday = true: Trade on Friday.
- Stop The Strategy In Unmanaged Close = true: Stop the EA to open additional orders in case the order is closed with low difference between open price and close price that means it is closed manually or there are fast movements.
- Max Allowed Spread = 2.5: Maximum spread the system will be allowed to open orders with.
Aggressive mode parameters are similar in description to the above.